ACWA

ACWA Power signs agreements worth up to USD 2.5bn with Uzbekistan – Uzbekistan

Saudi Arabia’s ACWA Power has announced that it has signed three new strategic agreements with the Ministry of Energy of Uzbekistan to amplify power generation and develop technical expertise. The agreements could potentially be worth up to $2.5 billion.

According to a statement from ACWA Power, the agreements include a 25 year Power Purchase Agreement (PPA) – with a total investment value of $1.2 billion – for a 1500 MW Combined Cycle Gas-Turbine (CCGT) power plant; an Implementation Agreement worth $550 million-$1.1 billion for the building of a wind power plant with a capacity of 500-1000 MW of clean energy; and a Memorandum of Understanding (MOU) for the development of a training centre to enhance technical skills of Uzbek students and professionals.

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ACWA Power signs MoU to enhance Egypt’s water desalination sector – Egypt

ACWA Power signed a memorandum of understanding (MoU) with the Ministry of Housing; Utilities & Urban Communities represented by the New Urban Communities Authority; Holding Company for Water and Wastewater (HCWW); and Ministry of Electricity and Renewable Energy represented by Egyptian Electricity Holding Company, to conduct preliminary and feasibility studies for a series of water desalination projects in Egypt.

The projects will be powered by solar and wind, or a combination of both renewable energy sources, the Saudi-based utilities provider said in a statement.

Upon completion, the studies will be submitted to the Ministry of Housing, Utilities & Urban Communities and Egyptian Electricity Holding Company.

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Acwa Power, Mubadala ink UAQ desalination plant agreement – Saudi

Saudi-based Acwa Power, a global leader in water desalination and power generation, said its consortium with MDC Power Holding Company, an entity fully owned by Mubadala Investment Company, has entered into a water purchase agreement with Federal Electricity & Water Authority (Fewa) for a 150-million-gallons-per-day desalination plant to be located in the northern emirate of Umm Al Quwain.

Under the terms of the agreement, Fewa will hold 20 per cent of the stake, while Acwa Power and Mubadala will each own 40 per cent of the plant, which will utilise seawater reverse osmosis technology.

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Acwa Power’s Jordan plant launches commercial operations – Jordan

Saudi-based Acwa Power, a major developer of power and water desalination projects, said its joint venture IPP (independent power project) with Jordan’s National Electric Power Company (Nepco) in the Zarqa region of Jordan, has entered commercial operations adding 485 MW electricity to the country’s grid.

The Acwa Power Zarqa combined cycle power plant can generate the equivalent electricity needed to supply up to 350,000 Jordanian households and is the most efficient thermal power plant in Jordan, said a statement from the Saudi company.

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ACWA Power consolidates its stake in RAWEC – Saudi Arabia

ACWA Power, a developer, owner and operator of power generation and water desalination plants, has announced the completion of the acquisition of certain shares and debt instruments/loan notes owned by Marubeni Corporation in Rabigh Arabian Water & Electricity Company (RAWEC) and certain shares owned by Marubeni in RAWEC’s Operations & Maintenance Company, namely Rabigh Power Company (RPC).

RAWEC is the captive utilities (power, water and steam) provider to Rabigh Refining and Petrochemical Company (Petro Rabigh Corporation), a joint venture formed in 2005 between Sumitomo Chemical, Japan and Saudi Aramco, which owns, operates and manages the Rabigh petrochemical complex.

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ACWA Power signs final financial agreements for one of the world’s largest SWRO desalination projects in Saudi Arabia – Saudi Arabia

ACWA Power, a leading developer, owner and operator of power generation and water desalination plants, leading a consortium with Saudi Brothers Commercial Company(“SBCC”), announced the successful signing of senior financing and hedging agreements for the SR 2.625 billion (USD 700 million) Rabigh-3 IWP which will generate 600,000 m³/day – making it one of the largest SWRO desalination projects in the world to be built in the Kingdom of Saudi Arabia.

The water purchase agreement was signed on 24th of December 2018 by HE Eng. Abdulrahman bin Abdulmohsen Al-Fadley, Minister of Environment, Water and Agriculture and Chairman of Water & Electricity Company (WEC), as WEC will act as the off taker of the project.

(LINK).

Acwa, Huawei in tie-up to develop PV market – Saudi Arabia

Saudi Arabia’s Acwa Power, a leader in power and desalination water plants, has signed a global cooperation agreement with Huawei at the recent Sino-Saudi Investment Forum in Beijing to develop the photovoltaic (PV) market.

The two firms will apply  cutting-edge technologies such as artificial intelligence, big data, and cloud computing to PV plant projects to promote the industry’s progress with technological innovation.

(LINK).

Acwa Power seals utility project deals with China – Saudi Arabia

Saudi-based Acwa Power has signed deals with Chinese entities, Silk Road Fund and Huawei, to lay the ground for collaboration in further investments and technological advancements of power generation and water desalination plants being developed and operated by the Saudi group.

This MoU comes as part of the official visit of HRH Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince of Saudi Arabia, Deputy Prime Minister and Minister of Defence, to China.

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ACWA Power set to expand power generation capacity with $35bn investment in next five years – Saudi Arabia

The Saudi Arabia-based power generation company, ACWA Power, has confirmed plans to increase its water desalination and power generation capacity and grow during the next five years with investments valued at approximately $35bn, according to Trade Arabia.

As the quickest growing power and water developer in the Middle East and Africa, the company is expected to enter newer territories as part of its new growth strategy.

(LINK).

Saudi ACWA Power plans to double water desalination and power generation capacity in 5 years – Saudi Arabia

ACWA Power, a global leader in water desalination and power generation, successfully wrapped up its presence at the 12th edition of the World Future Energy Summit (WFES), which took place on Jan. 14-17, 2019 as part of Abu Dhabi Sustainability Week (ADSW).

ACWA Power cemented its position as a leading sustainability enabler in the region through its participation as WFES and engaged with stakeholders in the industry to highlight its commitment to producing electricity and desalinated water efficiently, reliably, and safely at low cost.

ACWA Power continuously supports the vision and foresight of the United Arab Emirates in bringing together the principal actors from all over the world to create awareness, foster debate, and catalyze action that can help guide to the path of sustainable, secure and prosperous future.

(LINK).

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